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#466214 - 11/22/19 02:08 PM Multiple offers (one missed!)
G_Hundt Offline
Junior Member

Registered: 11/22/19
Posts: 1
Loc: USA
I am a real estate investor . . . Not a broker or agent.

Recently I bid at a live auction. The lot I was bidding on did not receive an acceptable bid so was not sold.

After the auction the auctioneers said a list of the unsold lots and asking prices would be emailed or posted.

A couple of days later I received the list of lots with asking prices. I emailed the agent saying I wanted a certain lot and would pay the asking price. They emailed back saying "consider it done".

A couple of days later the agent emailed me with a link to a contract on Docusign. But a few minutes later the agent emailed again saying that she had made a mistake; that she had received an offer the evening after the auction ended (i.e., 2 days before my offer) and would sell to that person.

I believe this was an honest mistake. Apparently she either did not see the first email offer, or saw it and did not respond to it immediately.

This was not an expensive property, so no big gain or loss for anyone. I am curious on real estate professionals' and auctioneers' thoughts on how this is handled. I am sure it happens sometimes.

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#466231 - 11/27/19 11:38 AM Re: Multiple offers (one missed!) [Re: G_Hundt]
Long Walk Offline
Member

Registered: 06/27/08
Posts: 412
Loc: New Hampshire
Busy agents with lots of listings...their staff can't know to the minute which properties have had offers recently submitted. Same kind of thing happened to me early on: I made appointments to show property and confirmed availability; listing agent tells me the property is under contract when I went to submit an offer three hours later; I was a jerk about it because it put me in a hard spot with my buyer; he was cool about it and patient with me because he had sold more houses that month than I had so far in my career.

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